Insurance Problem
Oct 14, 2004, 04:25 AM
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Insurance Problem
ive had my lancer for about a year now im financing it and i havent missed a payment but as of 2 months ago to this date i dont have any insurance on my car cause that **** is like 6 g's a year and i got backed up with some stuff now its cancelled but im worried the dealership hasnt said anything to me, im gonna get insurance under my mothers name cause she has a dollar a day insurance but why hasnt the dealership said anything to me?
Oct 14, 2004, 07:20 AM
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If the lienholder is (was) listed on the policy then the lienholder knows it was cancelled. It just takes a little time for them to process everything through their system. If you haven't yet you will likely get a letter at some point in time stating that your lienholder has covered your vehicle (not you, just the car) with their own insurance and will be sending you a nice fat bill.
Oct 14, 2004, 07:47 AM
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Yeah, just wait till you get a payment request for the remaining balance. That'll be cute.
If there is a lienholder on your car, you're required to have the amount of insurance coverage that they stipulate, usually full coverage. If your insurance does not meet their requirements: big fat bill. Better get on that. Besides that, if you're driving without insurance and you get into an accident 1. You're going to run. (in which case I hope you die a slow, painful death) or 2. You're going to get sued. or 3. Both! Don't be stupid, pick up your insurance so you don't get yourself ****ed in the ***.
If there is a lienholder on your car, you're required to have the amount of insurance coverage that they stipulate, usually full coverage. If your insurance does not meet their requirements: big fat bill. Better get on that. Besides that, if you're driving without insurance and you get into an accident 1. You're going to run. (in which case I hope you die a slow, painful death) or 2. You're going to get sued. or 3. Both! Don't be stupid, pick up your insurance so you don't get yourself ****ed in the ***.
Oct 14, 2004, 09:56 PM
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The lienholder is whoever financed the car. Be it Mitsubishi Motor Credit or an independent bank. They have a lien on the car, meaning they essentially "own" it until you finish buying it from them.
Oct 15, 2004, 06:18 AM
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For example, my leinholder would be Charter One Auto Finance. Not 
- but it all depends on the financing you got.
For christ sakes, just get Safe Auto, OK? They keep you legal for less!
- but it all depends on the financing you got.For christ sakes, just get Safe Auto, OK? They keep you legal for less!
